Fatima saved $15,000 toward a down payment on a house. She makes $5,375 a month. What is the maximum loan she can take on a hous
2 answers:
We will use ratio to determine how much can Fatima afford as a loan for her house.
Let gross income of Fatima = $ x
Amount earned by Fatima monthly= $ 5,375
36 % of 5,375=
$
Maximum amount that can be paid as a loan monthly = $ 1935
Total money that she can pay yearly for house loan if Fatima allowable money for paying loans is $ 1935=
$
Money saved as a down payment = $ 15,000
So, maximum amount loan Fatima can take on a house= 23220 + 15000=$38,220
She is not allowed for loan for house if the cost of house is any of the four options.
(B) 28 % of $ 5375=
$
Maximum amount that Fatima spend on her house monthly= $ 1505
Amount that fatima can spend yearly on her house = 1505× 12 =$18,060
For the four options given , none of the option matches Fatima's expectations.
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Celia bought a bag of 12 goldfish for $3, Cost of 1 goldfish is $0.25 .
<u>Step-by-step explanation:</u>
The goldfish is a freshwater fish in the family Cyprinidae of order Cypriniformes. It is one of the most commonly kept aquarium fish. A relatively small member of the carp family, the goldfish is native to East Asia.
Here we have , Celia bought a bag of 12 goldfish for $3 . We need to find the cost of 1 goldfish . Let's find out:
Celia have a bag of 12 goldfish which cost her $3 . So , cost of 1 goldfish is equivalent to
⇒
⇒
⇒
⇒
Therefore, Celia bought a bag of 12 goldfish for $3 , Cost of 1 goldfish is $0.25 .
Answer:
There is an 8.38% probability that the anchor will be fired.
Step-by-step explanation:
For each resident, there is only two possible outcomes. Either they can name the news anchor on the evening news at their station, or they cannot.
This means that the binomial probability distribution will be used in our solution.
However, we are working with samples that are considerably big. So i am going to aaproximate this binomial distribution to the normal.
Binomial probability distribution
Probability of exactly x sucesses on n repeated trials, with p probability.
Can be approximated to a normal distribution, using the expected value and the standard deviation.
The expected value of the binomial distribution is:
The standard deviation of the binomial distribution is:
Normal probability distribution
Problems of normally distributed samples can be solved using the z-score formula.
In a set with mean and standard deviation
, the zscore of a measure X is given by:
The Z-score measures how many standard deviations the measure is from the mean. After finding the Z-score, we look at the z-score table and find the p-value associated with this z-score. This p-value is the probability that the value of the measure is smaller than X, that is, the percentile of X. Subtracting 1 by the pvalue, we get the probability that the value of the measure is greater than X.
When we are approximating a binomial distribution to a normal one, we have that .
In this problem, we have that:
400 city residents are going to be asked. So .
Suppose that in fact 12% of city residents could name the anchor if asked. This means that .
So,
.
They plan to fire the news anchor if fewer than 10% of the residents in the sample can do so.
What is the approximate probability that the anchor will be fired?
10% of the residents is 0.10*400 = 40 residents.
Fewer than 10% is 39 residents. So the probability that the anchor will be fired is the pvalue of Z when .
So:
has a pvalue of 0.0838. This means that there is an 8.38% probability that the anchor will be fired.